Investing in companies embroiled in corruption may pose more risks than previously identified in light of recent developments in the SFO proceedings against Mabey & Johnson.
On 12 January 2012, the UK courts allowed the Serious Fraud Office (SFO) to confiscate shareholder dividends paid out by Mabey & Johnson which, in 2009, had been convicted of corruption and sanction breaches with respect to the UN Oil-for-Food Programme in Iraq. The case has been hailed as a "landmark victory" for the SFO, but what are the wider implications of this case?
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